Conveyor Systems Market to Reach $15.1 Bn, Globally, by 2030 at 5.1% CAGR: Allied Market Research
Growing trend of automation in industries and Lean manufacturing system drive the growth of the global conveyor systems market.
PORTLAND, Ore., March 22, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Conveyor Systems Market by Type (Belt, Roller, Pallet, Overhead, and Others), Industry (Food & Beverages, Pharmaceuticals, Transport & Logistics, Manufacturing, Automotive, and Others), and Load (Bulk and Unit): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global conveyor systems industry generated $9.1 billion in 2020, and is anticipated to generate $15.1 billion by 2030, witnessing a CAGR of 5.1% from 2021 to 2030.
Prime determinants of growth
Growing trend of automation in industries and Lean manufacturing system drive the growth of the global conveyor systems market. However, huge initial investment hinders the market growth. On the other hand, growth in the e-commerce industry presents new opportunities in the coming years.
Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/1697
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global conveyor systems market, especially during the initial phase.
- Manufacturing activities were stopped or restricted to a huge extent. Construction and transportation activities, along with their supply chains got hampered on a global level. This led to decline in manufacturing activities of conveyor system as well as their demand in the market.
The belt segment to maintain its leadership status throughout the forecast period
Based on type, the belt segment held the highest market share in 2020, accounting for nearly two-fifths of the global conveyor systems market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to its easy installation and maintenance in application industry. Moreover, the overhead segment is projected to manifest the highest CAGR of 6.6% from 2021 to 2030, owing to increase in adoption of automation in manufacturing industry.
Get detailed COVID-19 impact analysis on the Conveyor Systems Market: https://www.alliedmarketresearch.com/request-for-customization/1697
The food & beverages segment to maintain its lead position during the forecast period
Based on end use industry, the food & beverages segment accounted for the largest share in 2020, contributing to more than one-fifth of the global conveyor systems market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 6.3% from 2021 to 2030. This is due to large scale production of packaged food items around the world.
Asia-Pacific, followed by Europe and North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by Europe and North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global conveyor systems market. This is owing to large scale manufacturing industries in China and India as well as production of conveyors in China. Moreover, the LAMEA region is expected to witness the fastest CAGR of 6.4% during the forecast period, owing to rapid industrialization in emerging countries of the region.
Leading Market Players
- Caterpillar
- Daifuku Co.
- Interroll Group
- Kardex
- Kuka AG (Swisslog Holding AG)
- Mahindra Tsubaki Conveyor Systems Pvt. Ltd.
- Murata Machinery, Ltd.
- Siemens
- Taikisha Ltd.
Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/1697
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial
Similar Reports We Have:
Pallets Market - The pallets market growing at a CAGR of 5.1% from 2020 to 2027.
Warehouse Robotics Market - Global warehouse robotics market is projected to reach $15,792.0 million by 2030, growing at a CAGR of 13.2% from 2021 to 2030.
Heavy Payload Robotic Arm Market - Global heavy payload robotic arm market is expected to reach $19,576.2 million by 2030, with a CAGR of 5.4% from 2021 to 2030.
Pre-Book Now with 10% Discount:
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article